Members' Allowances

Part of the debate – in the House of Commons at 12:51 pm on 3 November 2004.

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Photo of Peter Hain Peter Hain Chair, Modernisation of the House of Commons Committee, The Secretary of State for Wales, Leader of the House of Commons and Lord Privy Seal 12:51, 3 November 2004

There will certainly be consultation with the trustees. I have already discussed the matter with their chairman. There will not be a separate motion; this motion will decide the matter.

All Members are to be allowed to draw pension before the age of 65 on an actuarially neutral basis, not just those with at least 15 years' service. Those who have at least 15 years' service on 31 March 2009 will continue to be eligible for early retirement terms which are more favourable than actuarially neutral. Those who serve beyond 1 April 2009 will not have access to an unreduced pension before the pension age of 65.